Everyone has heard of Bill Gates, Steve Jobs, Elon Musk and the many other famous entrepreneurs who worked every waking hour, caught a break or two, and hit the big time. Not every entrepreneur makes it to the top of the Sunday Times Rich List, but they very frequently make great successes of their ventures. This allows them to create jobs, drive positive change in society, and reap many other rewards that come with running a successful business.
Starting and running a successful business is one of the key pillars to building wealth. And when combining entrepreneurialism with paying off your debt, saving as much money as possible, investing (the right way) and diversifying income streams, it is possible to build a strong net worth and create a life filled with choices. Billionaire business people are great heroes, but it’s hard to relate to them when you’re choosing the right investment vehicle for your pension or cutting out your daily Triple, Venti, Half Sweet, Non-Fat, Caramel Macchiato from Starbucks.
Instead, inspiration can be found in the “average Joe” entrepreneurs (if such a term can be applied to entrepreneurs). These are people who have overcome personal adversity, worked hard and built successful businesses that they can be proud of—all whilst living in relative obscurity.
Here is a selection of successful entrepreneurs whom you may not have heard of, but will leave you feeling inspired.
Alex Franklin
After doing research as part of his university dissertation, Alex became passionate about improving the environmental and ethical impact of the clothing industry. From this, he founded A.M. Custom Clothing, a supplier of branded Fairtrade and organic clothing to some of the biggest private and public sector organisations in the UK and around the world.
Since starting out back in 2013, Alex and his company have won a number of awards, including one that saw him meeting Dragons Den star and retail entrepreneur, Theo Paphitis. In addition, they have been featured by a number of news publications, including The Guardian and The Huffington Post.
Matt Lovett
Matt has always been interested in business, and this drove him to found his company, Wow Media, in 2007. The company is an online media and marketing company that runs websites in a number of different sectors aimed at multiple geographic areas. In his first year of business, Matt setup 7 websites across 5 countries using his “Wow” brand. In the 11 years of business, this has branched out into online discounts, coupon codes, dating, bingo, and an affiliate network.
Matt’s success has been documented by a myriad of news outlets, including the BBC, the Financial Times, ITV, Metro, and the Daily Mail. Matt even had his dream come true when he got to meet tycoon Richard Branson in 2011.
Diana Svensk
From fashion designer to professional poker player, Diana Svensk has had an unusual career path. “Unusual” has worked out very well for her, though. She has been featured in ELLE magazine, won Young Entrepreneur of the Year, and been successful in numerous poker tournaments. Diana has even been trying her hand at poetry, which she features on her social media accounts.
Barbara Corcoran
Borrowing $1,000 from her boyfriend, Barbara started her real estate business, Corcoran-Simone, in 1973. This later became the Corcoran Group, which she sold in 2001 for $66 Million! Since then, she has made some appearances on TV, including being an investor on Shark Tank and a contestant on Dancing with the Stars. Whilst she is probably the best known on this list, her $80 Million net worth means she is quite a ways off from the billionaire status that most of the household-name entrepreneurs enjoy.
Jesse Lear
Jesse started his entrepreneurial journey in debt, living in the basement of his parents’ house somewhere in rural Ohio. More than $60,000 in the red, and having just bounced a check to his friend, Jesse moved to the city and started work as a salesman. Having moved into a luxury apartment, Jesse and his friend noticed a gap in the market for doorstep waste and recycling collection for the wealthy, which they felt they could offer as a “luxury amenity”.
The idea behind V.I.P. Waste is that by creating clean luxury apartment facilities, residents are willing to stay longer, live more cleanly and pay higher rents for the nicer surroundings. The business now serves over 30,000 residents each week, and it grew from $0 in 2010 to $1 Million just five years later.
Final Thoughts
The range of backgrounds, and the different routes that all of these entrepreneurs have taken, are testaments to the fact that it is possible to achieve success no matter your background, personal circumstances or financial position.
So what are you waiting for? Dream up YOUR business idea and start your own LLC now!